$5,721

Avg. Federal Grant

$5,678

Avg. Federal Loan

$5,216,157

Total Aid Awarded

Central Penn College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

85%

Total Aid Amount Average Total Aid Awarded per year.

$5.216M

Financial Aid Official Website

www.centralpenn.edu/college-services/financial-aid/

It is interesting to note that, every year, around 95% of students at CPC receive some kind of financial aid, while the total amount of assistance/loans provided is $6,898,700. The total percentage of candidates applying to Central Penn College who receive the Federal Grant is 59%. In comparison, 89% of the students are awarded the Student Grant, 66% get the Institution Grant, and 59% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,971, and the same stands at $4,145 for State Grant awardees and $3,538 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,123. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At CPC, an estimated number of 86% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

62%

State Grant Aid

56%

Institution Grant Aid

80%

Pell Grant

62%

Average Aid Awarded

Federal Grant Aid

$5,721

State Grant Aid

$4,085

Institution Grant Aid

$2,762

Pell Grant

$5,299

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$9,358

$30,001 - $48,000

$7,879

$48,001 - $75,000

$7,024

$75,001 - $110,000

$4,287

Over $110,000

$2,039

Student Loans for Central Penn College

Average Loan Amount Average Loan Amount received per year.

$7,435/Year

Students Taking Out Loans

80%

Loan Default Rate

12%

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